CFXUSD Triangle broken upwards. $0.7500 is the target.

Apr 11, 2023

Conflux (CFXUSD) broke above the short-term Triangle and technically should extend the enormous +2200% rise since December's Low. We are targeting the 0.786 Fibonacci level at 0.75000. During this rally, the 1D MA50 (blue trend-line) has been supporting, so technically as long as it holds, CFX is a buy. If a 1D candle closes below it, we would expect the market to seek buyers and confirmation of the long-term bullish trend on the 1D MA200 (orange trend-line) and the 0.13650 Support. Until that happens, every MACD Bullish Cross is a buy confirmation (one is now emerging).


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